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SWOT and TOWS

kb-11-02-planning
You will benefit from doing a SWOT analysis and making a TOWS matrix. Using these business tools will help you to make decisions with greater confidence.

SWOT analysis is an easy method to get an idea of the state of a business. Using this method, you will consider your:

  • Strengths
  • Weaknesses
  • Opportunities
  • Threats
The importance of a SWOT analysis is to give you a clear picture of what may face you, and how you can plan for it.

Download a SWOT table, here...

Under each headline fill out what you believe are the strengths, weaknesses, opportunities and threats. Write down everything that you can think of, then circle the most important ones and make another SWOT document containing just these.

Note: Strengths and weaknesses come from yourself and within the company. Opportunities and threats, for instance a new market or competitors, come from outside the company.

The TOWS matrix will tell you how you can use your SWOT information by creating four types of strategies:
  • Strengths and opportunities (SO)
    Use strengths to make the most of opportunities.
  • Strengths & threats (ST)
    Use strengths to avoid threats.
  • Weaknesses & opportunities (WO)
    Use opportunities to overcome weaknesses.
  • Weaknesses & threats (WT)
    Minimize weaknesses and avoid threats.
Note: WT strategies are defensive strategies. They will protect you from loss, but they will not create success.

Download a TOWS table, here...

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DBN Updates and News

  • DBN announced the winners of the Good Business Awards and Innovation Award at an event on 5 November 2014.

  • According to Jerome Mutumba, repayment of loans, is critical for DBN and its clients.

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